Please wait while we load the requested 10-K report or click the link below:
GETTY REALTY CORP. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2014 RESULTS
JERICHO, NY, March 4, 2015 Getty Realty Corp. (NYSE-GTY) (Getty or the Company) announced its financial results for the quarter and year ended December 31, 2014.
Highlights for the Fourth Quarter Ended December 31, 2014:
Funds from operations (FFO) of $0.38 per share
Adjusted funds from operations (AFFO) of $0.34 per share
Acquired 3 properties for $10.8 million in the aggregate
Disposed of 22 properties for $5.8 million in the aggregate
Recognized additional environmental liability
For the second consecutive year, we made progress on our ongoing transformation. This was evidenced by our solid Adjusted Funds from Operations per share growth, excluding payments from the Lukoil Settlement stated David B. Driscoll, Gettys Chief Executive Officer. We remained disciplined and judicious in our acquisition approach, which combined with the continued optimization of the portfolio resulted in improved performance throughout the year. We have also aggressively reduced operating costs over the past few years and together all of these efforts are driving additional cash flow. As we move into 2015, we are excited to have positioned the Company to outperform. Additionally, we have a robust pipeline of opportunities that we believe could contribute to our growth.
The Companys net income, funds from operations (FFO) and adjusted funds from operations (AFFO) for the year ended December 31, 2013 included payments from the settlement of a litigation brought by Getty Petroleum Marketing, Inc. (Marketing) against Lukoil (the Lukoil Settlement) of approximately $23.7 million, or $0.71 per share. In addition, the Companys net income for the year ended December 31, 2013 included significant gains on dispositions of real estate. For these reasons, comparisons of the Companys performance for the years ended December 31, 2014 and 2013 are less meaningful.
The Company reported a net loss for the quarter ended December 31, 2014 of $3.1 million, or $0.10 per share, as compared to net earnings of $5.0 million, or $0.15 per share, for the quarter ended December 31, 2013. The results for the quarter ended
The following information was filed by Getty Realty Corp (GTY) on Wednesday, March 4, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one year to another to evaluate Getty Realty Corp's financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Getty Realty Corp.